CBRE/New England Sells Boston’s Old City Hall for $30.1M

CBRE/New England's Capital Markets team today announced the leasehold interest sale of Boston's Old City Hall, a distinctive 83,700 SF mixed-used building located in the heart of downtown Boston at 45 School Street, for $30.1 million.

Designed by Gridley J. F. Bryant & Arthur Gilman and constructed between 1862-1865, Boston's Old City Hall had been vacated by the City of Boston in the mid-1960s and was then spared demolition and completely renovated in 1970 by the seller. It remains an architectural masterpiece situated along Boston's Freedom Trail. The property has more than 500,000 annual visitors and the location itself has a notable history.

“Synergy Investments is pleased and proud to add one of the finest and most historically significant assets in the City of Boston to our portfolio,” noted Dave Greaney, President of Synergy Investments. “We appreciate the importance of the property to the residents of the City of Boston, and look forward to enhancing both our tenants' and the public's experience.”

About Synergy Investments

Synergy Investments is a full service real estate investment and operating company primarily focused on the Boston market. They are one of the largest and most active landlords in the city and have grown their portfolio to approximately 4 million square feet providing space to more than 400 businesses and organizations. Synergy is an active member of the Boston business community and have been recognized as Landlord of the Year by the GBREB Commercial Brokers Association (CBA). Synergy Investments is also proud to support numerous organizations that make a positive impact in the city. For more information, please visit www.synergy-inv.com.

About Architectural Heritage Foundation

Architectural Heritage Foundation(AHF) is a 501c-3 not-for-profit organization whose mission is to preserve historic buildings and landscapes. Founded in 1966, AHF has been blending the fields of historic preservation and real estate development, asset management, and property management ever since. Having completed Quincy Market feasibility studies that lead to the acclaimed Faneuil Hall Marketplace complex, in 1969, AHF won stewardship of Boston's Old City Hall. Our successful redevelopment of this grande dame structure into a thriving restaurant and office building continues to demonstrate the relevance of adaptive reuse to downtown Boston's future, and has been a national model. AHF remains committed to Boston and seeks to inspire communities and strengthen cultural, environmental and economic vitality. For more information, please visit www.ahfboston.com.